23 Modification of certain existing transitional protections
Finance (No 2) Act 2023 (2023 c 30) | Legislation

23  Modification of certain existing transitional protections

(1)     In Part 4 of FA 2004 (pension schemes etc), Schedule 36 (transitional provisions) is amended in accordance with subsections (2) and (3).

(2)     In paragraph 12 (enhanced protection), in sub-paragraph (2), after “ceases to apply if” insert “the notice under sub-paragraph (1) is given on or after 15 March 2023 and”.

(3)     In paragraph 27 (enhanced protection: modifications of paragraph 2 of Schedule 29), in sub-paragraph (3), in the substituted sub-paragraph (5) of paragraph 2, for the words after “the permitted maximum is” substitute “the lower of—

(a)     the applicable amount calculated in accordance with paragraph 3, and

(b)     the amount that would have been the applicable amount calculated in accordance with paragraph

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